Weekly CEF Commentary | March 3, 2024 | PDX Makes The Change

Mar. 08, 2024 9:00 AM ET, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 4 Comments

Summary

  • Markets were flat, but upcoming events like the jobs report, PMIs, and ECB meeting are important.
  • Core PCE met expectations, but rising "supercore" measure may keep Fed from cutting rates.
  • Expectations for Fed rate cuts have significantly decreased in just two months.
  • PIMCO Dynamic Income Strategy finally did what we said they would do, shift the distribution to a monthly payout schedule as well as raise the rate significantly.
  • I do much more than just articles at Yield Hunting: Alt Inc Opps: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »

Screen with rising interest rates.

Torsten Asmus

Macro Picture

Markets were basically flat this week, but we have an important week coming up with the jobs report, PMIs, and the ECB meeting.

The big economic news was the Core PCE coming in as expected at +0.4% m/m

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Analyst’s Disclosure:I/we have a beneficial long position in the shares of PDX, NMCO, ETX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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